Bids to curb health care costs offer little more than talk
WASHINGTON (AP) — What began as bipartisan attempt to curb soaring health care premiums in the nation’s health insurance markets is faltering in Congress. At fault are escalating demands from each party and erratic positions by President Donald Trump. Democrats want bigger federal subsidies for consumers under President Barack Obama’s health care law. Republicans aim to relax its coverage requirements and win abortion restrictions. The bickering could collapse the whole effort, with each side blaming the other.
Trump says commerce secretary will talk tariffs with EU
WASHINGTON (AP) — President Donald Trump says his commerce secretary will be talking to the European Union about tariffs that he argues have been unfair to the United States. Writing on Twitter, Trump says Commerce Secretary Wilbur Ross will speak with EU representatives about “eliminating the large Tariffs and Barriers they use against the U.S.A.” The president announced last week that the United States would impose heavy tariffs on imported steel and aluminum, with some countries potentially exempted.
Get Started: Can’t pay the IRS? You do have options
NEW YORK (AP) — With a little more than five weeks until this year’s tax filing deadline of April 17, many small business owners are tussling with the question, how am I going to pay my taxes? When owners haven’t set aside enough money to cover their taxes, they do have options, including using savings, borrowing money or working out a payment plan with the IRS. But not filing a return because you can’t pay isn’t one of them. The IRS levies hefty penalties when a tax return is filed after the deadline.
Apple adds more ‘Texture’ to its services with magazine deal
SAN FRANCISCO (AP) — Apple has bought digital magazine distributor Texture to extend its subscription services beyond music and online storage. The deal announced Monday puts Apple in control of a service that is often described as a Netflix of magazines. Texture offers readers access to articles in more than 200 magazines for $10 per month, much like Netflix sells unlimited access to its video programming. Apple didn’t disclose the price it is paying for Texture.
Goldman Sachs CEO succession clearer with Schwartz retiring
NEW YORK (AP) — Harvey Schwartz, a top executive at Goldman Sachs, is retiring next month, clearing the way for David Solomon to eventually become the next chief executive of the Wall Street firm. Schwartz and Solomon jointly hold the positions of co-chief operating officer and president. Both had been considered likely successors to Lloyd Blankfein, the current CEO.
House Democrat seeks data on Trump firm donation to Treasury
WASHINGTON (AP) — A senior House Democrat is asking the Trump Organization and Treasury Secretary Steven Mnuchin to provide more information on a $151,470 donation the Trump family firm turned over to the government. President Donald Trump pledged last year to donate profits from foreign government patronage at his company’s properties. Rep. Elijah Cummings, D-Md., asked a Trump Organization lawyer to provide documents on the company’s foreign government payments and how it calculated its donation.
China shrinks steel industry slowly, drawing Western ire
BEIJING (AP) — U.S. President Donald Trump’s blanket tariff hike on steel and aluminum reflects American ire over a flood of low-cost exports from China, whose steel output accounts for half the world’s supply. The industry swelled over the past decade to support a history-making Chinese construction boom. China has closed some steel mills but is moving too gradually to defuse American and European anger at a flood of low-cost exports.
US budget deficit jumped to $215.2 billion in February
WASHINGTON (AP) — The federal government recorded a budget deficit of $215.2 billion in February, up significantly from a year ago as the impact of the GOP tax cuts passed in December begin to surface. The Treasury Department reports that the February deficit was 12.1 percent higher than a year ago, reflecting in part a drop of $5 billion in individual withholding taxes paid last month compared to a year ago.
Tech gains but industrials slide, leaving indexes mixed
NEW YORK (AP) — Technology companies continue to rally Monday while industrial companies slump, leaving stock indexes mixed at the close of trading. The tech industry has led the market’s recovery from its recent lows while industrials were coming off a big gain Friday. Retailers including Amazon and Starbucks also made gains.
The Standard & Poor’s 500 index fell 3.55 points, or 0.1 percent, to 2,783.02. The Dow Jones industrial average declined 157.13 points, or 0.6 percent, to 25,178.61. The Nasdaq composite finished at another record high after it added 27.51 points, or 0.4 percent, to 7,588.32. The Russell 2000 index of smaller-company stocks rose 3.91 points, or 0.2 percent, to 1,601.06.
Benchmark U.S. crude declined 68 cents, or 1.1 percent, to $61.36 a barrel in New York. Brent crude, used to price international oils, shed 54 cents to $64.95 a barrel in London. Wholesale gasoline lost 1 cent to $1.89 a gallon. Heating oil fell 2 cents to $1.86 a gallon. Natural gas climbed 5 cents to $2.78 per 1,000 cubic feet.
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